Minneapolis/St. Paul, Minnesota prices: $10,000,000 in 1988 $24,318,088.74 in 2022

Inflation in Minnesota

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Prices in Minneapolis/st. Paul, 1988-2022 ($10,000,000)

According to the U.S. Bureau of Labor Statistics, prices in Minneapolis-St Paul, Minnesota are 143.18% higher in 2022 versus 1988 (a $14,318,088.74 difference in value).

Between 1988 and 2022: Minneapolis/St. Paul experienced an average inflation rate of 2.65% per year. This rate of change indicates significant inflation. In other words, $10,000,000 in Minneapolis/St. Paul in the year 1988 would cost $24,318,088.74 in 2022 for an equivalent purchase. Compared to the overall inflation rate of 2.70% during this same period, inflation in Minneapolis/St. Paul was lower.

In the year 1988: Pricing changed by 5.02%, which is above the average yearly change in Minneapolis/St. Paul during the 1988-2022 time period. Compared to inflation for all items in 1988 (4.08%), inflation in Minneapolis/St. Paul was higher.

Price Inflation in Minneapolis-St Paul, Minnesota since 1984

Consumer Price Index, U.S. Bureau of Labor Statistics
Years with the largest changes in pricing: 2022 (7.45%), 1988 (5.02%), and 2021 (4.84%).

View price changes for other categories
Alcoholic beverages · Fresh fruits · Televisions · Women's apparel · More

Buying power of $10,000,000.00 since 1988

Below are calculations of equivalent buying power in Minneapolis/St. Paul, over time, for $10,000,000 beginning in 1988. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
1988$10,000,000.005.02%
1989$10,409,556.314.10%
1990$10,836,177.474.10%
1991$11,126,279.862.68%
1992$11,518,771.333.53%
1993$11,877,133.113.11%
1994$12,252,559.733.16%
1995$12,542,662.122.37%
1996$12,960,750.853.33%
1997$13,259,385.672.30%
1998$13,506,825.941.87%
1999$13,933,447.103.16%
2000$14,513,651.884.16%
2001$15,059,726.963.76%
2002$15,324,232.081.76%
2003$15,588,737.201.73%
2004$16,032,423.212.85%
2005$16,476,109.222.77%
2006$16,740,614.331.61%
2007$17,171,245.732.57%
2008$17,829,180.893.83%
2009$17,737,969.28-0.51%
2010$18,065,529.011.85%
2011$18,714,931.743.59%
2012$19,151,791.812.33%
2013$19,523,122.871.94%
2014$19,796,331.061.40%
2015$19,672,952.22-0.62%
2016$19,978,242.321.55%
2017$20,412,883.962.18%
2018$20,901,791.812.40%
2019$21,340,102.392.10%
2020$21,586,774.741.16%
2021$22,631,740.614.84%
2022$24,318,088.747.45%*

* Not final. See inflation summary for latest details.
** Extended periods of 0% inflation usually indicate incomplete underlying data. This can manifest as a sharp increase in inflation later on.


Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Minneapolis-St Paul, Minnesota:

Year198419851986198719881989199019911992199319941995199619971998199920002001200220032004200520062007200820092010201120122013201420152016201720182019202020212022
CPI103.100107.000108.400111.600117.200122.000127.000130.400135.000139.200143.600147.000151.900155.400158.300163.300170.100176.500179.600182.700187.900193.100196.200201.247208.958207.889211.728219.339224.459228.811232.013230.567234.145239.239244.969250.106252.997265.244285.008

Adjust Minneapolis/St. Paul prices for inflation

Start with the inflation rate formula:

CPI in 2022 / CPI in 1988 * 1988 USD value = 2022 USD value

Then plug in historical CPI values from above. The CPI for Minneapolis-St Paul, Minnesota was 117.200 in the year 1988 and 285.008 in 2022:

285.008 / 117.200 * $10,000,000 = $24,318,088.74

Therefore, according to U.S. Bureau of Labor Statistics, $10,000,000 in 1988 has the same "purchasing power" as $24,318,088.74 in 2022 (in the CPI category of Minneapolis-St Paul, Minnesota).


Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Minneapolis-St Paul, Minnesota in 1984. In addition to Minneapolis/St. Paul, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.

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